INTERNATIONAL POLITICAL ECONOMY AND IMF: EXAMINING THE EFFECTS OF EXTENDED FUND FACILITY (EFF) ON THE GOVERNANCE STRUCTURE OF PAKISTAN

Abstract

The International Monetary Fund (IMF) is a global financial organization that offers financial support to nations with economic difficulties. There are serious worries about the efficacy of IMF Program conditionality on debtor countries due to the IMF's growing influence through the Extended Fund Facility Program and their performances in developing countries. The conditionality of the International Monetary Fund (IMF) Program is examined in this research in relation to Pakistan's economic governance. Due to its long-term reliance on IMF resources, Pakistan presents an intriguing case study. The influence of IMF conditionality on Pakistan's economy's governance structure and key economic indicators is examined in this study using a broad framework of qualitative elements. The study's findings demonstrate that there is consistently uncertainty in the governance structure and the execution of policy decisions in IMF lending schemes. Due to this deterioration, the country was unable to meet its macroeconomic objectives, such as reducing poverty and controlling inflation, Future perspectives on the research findings recommend that Pakistan's economic policy makers concentrate on their other sources of economic strength rather than solely relying on the IMF Program.